Any offeree whose equity securities are the subject of a takeover bid and who has been injured by any violation of this article may bring an action in his or her own name to enjoin such unlawful act or practice and to recover actual damages together with reasonable attorney fees in the event the offeree is successful.

Terms Used In N.Y. Business Corporation Law 1613

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Offeree: means the beneficial owner, residing in this state, of securities which an offeror acquires or offers to acquire in connection with a takeover bid. See N.Y. Business Corporation Law 1601
  • Takeover bid: means the acquisition of or offer to acquire by an offeror from an offeree, pursuant to a tender offer or request or invitation for tenders, any equity security of a target company, if after acquisition thereof the offeror would, directly or indirectly, be a beneficial owner of more than five percent of any class of the issued and outstanding equity securities of such target company. See N.Y. Business Corporation Law 1601